Good question! Microsoft said at the time that they relaxed the deadline for the NT 4.0 exams because of high demand and that they would NOT extend the deadline for 70-240 or the need for MCSEs to get current by 12/31/2001. Nevertheless, the decision does set a precedent. Unfortunately, reading Microsoft's mind is an inherently risky business, so my answer to this question is "Maybe, but probably not."
Wishy-washy? You bet! But when it comes to planning on something as important as upgrading your MCSE, or as money-saving as taking the 70-240 instead of 70-210, 70-215, 70-216, and 70-217, you can't let the possibility that Microsoft might change its policy affect your planning. My advice is that if you plan to take any Microsoft exams in November or December (when demand for testing center seats is bound to peak again), book your exam as far in advance as you possibly can.
This was first published in January 2001